Keltner Channel in Wealth Lab vs ATPro
Author: ss161
Creation Date: 6/27/2009 7:19 AM
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this is really a question for Fidelity and on Wed and Thurs i spent a lot of time on the phone with the Fidelity Active Trader desk and got no response, so I'm hoping Eugene or Cone or someone else on this site might have an idea.

The ATP indicator documentation appears to be from Wealth-Lab. See this excerpt on Keltner Channel:

The documentation says that Keltner Channel takes two parameters -- Period 1 and Period 2. Everything I've read on the web also suggests this. The problem I'm having is that on Fidelity ATP, the Keltner Channel indicator takes three parameters: Period1, Period2, and %Envelope. My question is, how is %Envelope used in the formula for Keltner Channel.

Here is a screen shot of a chart with Keltner Channels that highlight the input parameters to the function:

On the bottom of the image, one can see the three input parameters: Per1, 2, and %Envelope. On the chart as well, I've plotted two different Keltner Channels, one using a 95% Envelope (the jagged one) and one using a 10% Envelope (the smooth one).

Does anyone have any idea how Fidelity (or their chart provider) has modified Keltner Channel to use the %Envelope parameter.

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There's another Keltner formula out there that uses ATR, and maybe that's the one that ATP uses. They're sure not using Keltner's formula like Wealth-lab, and I'm not sure how ATP uses the % envelope. Keep trying with ATP support - if they fix their documentation for this indicator, then you should have your answer.
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Hi Steve,

That's right: the question is outside the scope of this site, where Wealth-Lab products are supported, not ActiveTrader Pro or Fidelity data. Everyone who has the guts can roll out their implentation of an indicator, and the Keltner bands are no exception. For example, Community.Indicators include one such flavor called Keltner ATR, where the envelopes are constructed as ATR bands.

I guess %Envelope stands for adding and subtracting a specific percentage of the price from the center band.
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